Bangladesh: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Bangladesh

In 2022, the Bangladeshi market for polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -2.3% to $X for the first time since 2016, thus ending a five-year rising trend. Overall, consumption recorded a relatively flat trend pattern. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports from Bangladesh

In 2022, shipments abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2018 when exports increased by 130% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms rose notably to $X in 2022. Overall, exports, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 with an increase of 107% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from Bangladesh, with a 76% share of total exports. Moreover, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms to China exceeded the volume sent to the second major destination, India (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-11.5% per year) and South Korea (-19.0% per year).

In value terms, China ($X) remains the key foreign market for polyethylene terephthalate and other polyethylene terephthalate in primary forms exports from Bangladesh, comprising 96% of total exports. The second position in the ranking was held by India ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-27.9% per year) and South Korea (-44.2% per year).

Export Prices by Country

In 2022, the average export price for polyethylene terephthalate and other polyethylene terephthalate in primary forms amounted to $X per ton, growing by 3.7% against the previous year. Overall, the export price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 14% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.5%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports into Bangladesh

In 2022, purchases abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -3.8% to X tons for the first time since 2014, thus ending a seven-year rising trend. In general, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.8% against 2014 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 28%. Imports peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms shrank to $X in 2022. Over the period under review, imports recorded a mild decrease. The pace of growth was the most pronounced in 2015 with an increase of 5.4% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms supplier to Bangladesh, with a 47% share of total imports. Moreover, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms from India exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+7.5% per year) and Indonesia (+6.7% per year).

In value terms, India ($X) constituted the largest supplier of polyethylene terephthalate and other polyethylene terephthalate in primary forms to Bangladesh, comprising 68% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.3% share of total imports. It was followed by Indonesia, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-3.2% per year) and Indonesia (-5.6% per year).

Import Prices by Country

The average import price for polyethylene terephthalate and other polyethylene terephthalate in primary forms stood at $X per ton in 2022, with an increase of 2.3% against the previous year. In general, the import price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2013 when the average import price increased by 2.5%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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